Miss Obama yet? US economy cooled more than originally thought in the 2nd quarter...Trump trade war

[Denizen]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

 

[Dekster]

The EU is going to beat us into recession and they don't have a trade war going.

 

[Denizen]

The EU is going to beat us into recession and they don't have a trade war going.

Yes, they do. Trump is fighting EU too.

 

[MarathonMike]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

Nope, I don't miss having an anti-American Apologist Racist Fraud for a President one bit.

 

[baileyn45]

Obama????

I've said it many times, americans give too much credit and too much blame to presidents.

 

[Oddball]

I miss Barackwheat like an all-night dentist.

 

[OKTexas]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

It cooled much more in China.

.

 

[westwall]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

Nope. Anybody who misses the obummer years was asleep. Or just plain stupid.

 

[Sun Devil 92]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

Nope. Anybody who misses the obummer years was asleep. Or just plain stupid.

Not to mention the fact that his so called growth is inflated by the fact the economy had cratered and was climbing back.

I miss watching Obama making a fool of himself.

 

[Denizen]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

It cooled much more in China.

.

Cooled to 6% rate of GDP growth? Trump could only dream of that.

 

[Denizen]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

Nope. Anybody who misses the obummer years was asleep. Or just plain stupid.

Not to mention the fact that his so called growth is inflated by the fact the economy had cratered and was climbing back.

I miss watching Obama making a fool of himself.

Trump is causing it to crater from the Obama peak. The trade deficit is higher than ever. The budget deficit is reaching new records.

The legislative branch is stalled as Trump's 'boy' Moscow Mitch stonewalls all legislation.

No wall. No infrastructure. Farmers on welfare.

However there is a mountain of Trump lies which is causing rapturous delusions in Trump followers.

 

[edthecynic]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

It cooled much more in China.

.

China's GDP is growing at over 6%, Tramp at 2%. Tramp is LOSING!

 

[EvilCat Breath]

Democrats believe they can lie us into a recession

 

[Sun Devil 92]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

Nope. Anybody who misses the obummer years was asleep. Or just plain stupid.

Not to mention the fact that his so called growth is inflated by the fact the economy had cratered and was climbing back.

I miss watching Obama making a fool of himself.

Trump is causing it to crater from the Obama peak. The trade deficit is higher than ever. The budget deficit is reaching new records.

The legislative branch is stalled as Trump's 'boy' Moscow Mitch stonewalls all legislation.

No wall. No infrastructure. Farmers on welfare.

However there is a mountain of Trump lies which is causing rapturous delusions in Trump followers.

Just addressing your original bullshit post.

What you posted is nothing in rebuttal.

Just a bunch of ANTIFA farts.

 

[edthecynic]

Democrats believe they can lie us into a recession

Republicans believe you can talk a "booming" Tramp economy into recession, and God knows they tried talking the "weak" Obama economy into their predicted "double dip" recession for 8 years without success.

 

[LeftofLeft]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

Focusing on Obama Economics, no, I don’t miss capital sitting on the sidelines, jobs running overseas for companies to stay competitive, high Black Unemployment, high corporate cronyism and anti-small business, lower take-home pay for the Middle Class, capitulation with China, Russia, and Iran; egregious regulations for business.

 

[SassyIrishLass]

This is one stupid thread

 

[Mac1958]

The Trumpsters are in full 100% spin & deflect mode now, as the economy has clearly run out of the sugar high provided by the tax cuts. Talk radio is already getting the excuses in line - the Fed, something about Obama, the Deep State, commies, etc. etc. Whatever it is, Trump is the victim. About that we can be absolutely certain.

It can still turn. Some surprise GDP numbers might help and provide some energy. At this point, though, some kind of real and serious deal with China might be required, and they may be waiting for the elections. Consumer spending is still good, but that can only last so long - spending largely includes debt, and consumer debt is piling up.

Some kind of adrenaline is needed, though. Stat.
.

 

[Denizen]

Donald Trump is failing to match Obama's GDP growth despite the tax cut and tariffs. Not only GDP is below the Obama era, but job growth is also below the Obama era.

Donald Trump is starting to panic as his gut has run out of ideas to win the trade war and turn the economy away from a recession.

Unfortunately for Donald Trump, he has appointed a cabinet of sycophants which is incapable of suggesting anything other than how great Donald Trump is.

So far into his tenure, Donald Trump has achieved nothing except to increase the deficit and the debt and elevate Donald Trump to the greatest liar the world has ever witnessed.

At the end of Trump's tenure, Trump's oor performance will elevate Obama to superstar status.

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged | Markets Insider

The US economy cooled by more than originally thought in the 2nd quarter as Trump's trade wars raged
Gina Heeb
Aug. 29, 2019, 10:09 AM
REUTERS/Brian Snyder
The American economy expanded at a slower pace than initially thought in the second quarter.
The Commerce Department estimated Thursday that US gross domestic product, a measure of all the goods and services produced in a country, rose 2% from April to June.
The results dimmed the prospect that the White House would reach its growth estimates for the year.
Visit Markets Insider for more stories.
The American economy expanded more slowly than previously expected but remained at a solid pace in the second quarter as stronger consumer spending only partially offset weaker exports and business investment amid the Trump administration's trade disputes.
The Commerce Department on Thursday estimated that gross domestic product, a measure of all the goods and services produced in a country, rose by 2% from April to June. That was lower than the 2.1% growth that was originally reported and the 3.1% growth from the previous quarter.
Consumer spending, which accounts for more than two-thirds of activity in the US economy, remained one of the brightest spots. That measure picked up to a robust pace of 4.7% growth in the second quarter, its fastest pace since 2014.
Other measures out Thursday suggested tariffs President Donald Trump had levied on major trading partners dragged on growth by more than originally thought in the second quarter. The trade deficit, which has been volatile over the past year, widened further to $982.5 billion as the outlook for exporters remained uncertain.
"The third quarter should be less uneven, but the outlook for capital spending is deteriorating rapidly in the face of slower earnings growth and uncertainty created by the trade war," said Ian Shepherdson, the chief economist at Pantheon Macroeconomics.
A key measure of inflation, the price index for personal-consumption expenditures, rose by 2.2% from April to June, slightly less than originally thought and compared with a 0.4% increase in the first quarter.
Thursday's results dimmed the prospect that the White House would reach its growth estimates for the year. The Council of Economic Advisers forecast a print of more than 3% this year, far above forecasts by the Federal Reserve and other independent economists.
The central bank lowered interest rates by a quarter percentage point in July, citing below-target inflation and trade uncertainty. Growth concerns have mounted since then, with a key recession warning this month flashing for the first time in more than a decade.
With strong consumer spending and a historically tight labor market, Fed Chairman Jay Powell signaled last week that he was not eager to ease at the pace the White House has pushed for. Trump has demanded central bankers slash rates by up to a full percentage point, an adjustment that would typically be made only during a downturn.
"While there is no doubt that the economy is cooling, taking this morning's read into historical context, we're actually still chugging along though," said Mike Loewengart, the vice president of investment strategy at E-Trade. "There remains a solid backdrop of fundamentals."

Nope. Anybody who misses the obummer years was asleep. Or just plain stupid.

Not to mention the fact that his so called growth is inflated by the fact the economy had cratered and was climbing back.

I miss watching Obama making a fool of himself.

Trump is causing it to crater from the Obama peak. The trade deficit is higher than ever. The budget deficit is reaching new records.

The legislative branch is stalled as Trump's 'boy' Moscow Mitch stonewalls all legislation.

No wall. No infrastructure. Farmers on welfare.

However there is a mountain of Trump lies which is causing rapturous delusions in Trump followers.

Just addressing your original bullshit post.

What you posted is nothing in rebuttal.

Just a bunch of ANTIFA farts.

Enjoy. Hope you get some shrapnel with that.

 

[Oddball]

The Trumpsters are in full 100% spin & deflect mode now, as the economy has clearly run out of the sugar high provided by the tax cuts
.

Tax cuts are about me keeping what's mine....Any economic benefit for the politicians to claim credit for is incidental and irrelevant.